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Hollywood for Sale
It's not just the Hollywood Sign that's threatened, movie studios are having their own kind of trouble these days. "With three major entertainment properties openly on the block, and another independent studio quietly made available for sale, Hollywood -- once the sexiest of high-priced baubles -- faces a glut of supply and a dearth of demand," notes Sharon Waxman on her The Wrap. MGM, Miramax, Summit Media and Starz Media are all up for grabs, but who is buying these days? "As the industry continues to consolidate -- with NBC-Universal bought by Comcast, and Marvel and DreamWorks bought up by Disney -- the number of cash-rich customers cruising the boulevard seems to dwindle with every passing month."
One year ago, Congress voted to defund public media, eliminating a critical $1.7 million from our budget every year going forward. But they couldn’t silence us, and we’re not going anywhere. LAist is now 100% community funded and that means we’re taking our future into our own hands and turning to you to keep local reporting strong.
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You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
If this story helped you, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
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